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Edging Lower *RES 4: 122.61 High.....>

EURO-YEN TECHS
EURO-YEN TECHS: Edging Lower
*RES 4: 122.61 High Jun 9
*RES 3: 122.12 High Jun 16 and key near-term resistance
*RES 2: 121.23 High Jun 17
*RES 1: 121.10 High Jun 23
*PRICE: 120.02 @ 10:45 BST Jun 26
*SUP 1: 119.31 Low Jun 22 and the bear trigger
*SUP 2: 118.60 Low May 29
*SUP 3: 118.25 61.8% retracement of the rally between May 6 - Jun 5
*SUP 4: 118.04 2.0% 10-dma envelope
EURJPY is softer this morning. The cross found support Monday and has defined a
near-term base at 119.31, low Jun 22. If Monday's move higher marks the end of
the recent drop, price action will need to hold above the week's low. Gains
would pave the way for a climb towards 122.12, Jun 16 high and the next key
hurdle for bulls. A move below 119.31 however would reinstate recent bearish
pressure and open 118.25.

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